PUTRAJAYA, May 11 (Bernama) -- The government will announce the country's revised growth rate after Bank Negara Malaysia tabled the first-quarter gross domestic product (GDP) report, Datuk Seri Najib Tun Razak said Monday.

"I will come out with the new GDP figure as soon as I know what is the first-quarter figure," the Prime Minister told reporters after a meeting with Pemudah (Pasukan Petugas Khas Pemudahcara Perniagaan) at his office here.

"As soon as Bank Negara releases the first quarter report, then I will come out with the new revised GDP figure," he said.

Malaysia has forecast a growth rate of between -1 and +1 for this year following the current global economic downturn.

Najib also said that the government agreed to review some of the guidelines of the Foreign Investment Committee (FIC) as proposed by Pemudah at today's meeting.

He said the government, in principle, felt that some of the guidelines were no longer needed but stressed that effort to produce more Bumiputera entrepreneurs must be continued.

He did not specify which guidelines would be reviewed, adding that Pemudah would look into the matter first.

Asked how Malaysia's liberalisation moves in 27 sub-services sector and financial sector could provide a level playing field for local players, Najib said all Malaysians supported the goal of a more socially equitable society.

"The question is how do we go about it. We decided that we should do away the traditional way," the Prime Minister said.

"For example, supporting and promoting genuine Bumiputera companies as opposed to just having 30 percent of equity as it does not mean anything if (Bumiputeras) ended up as sleeping partners only," he said.

"But if you are in control of enterprises, maybe smaller in numbers, but the potential of enterprise to grow even up to the international level is much better than just having 30 percent in any enterprise," he added.

-- BERNAMA